The German economy avoided recession in the third quarter, but its growth was extremely weak, amounting to only 0.1% of GDP quarter-on-quarter and 0.5% in annual terms. The sharp decline in industry was partially offset by an increase in consumption, as well as growth in construction. However, given that the trade disputes that hit the country's exports are still far from being resolved, experts...

The trade war has had a negative impact on the Japanese economy. Against this background, Tokyo may increase budgetary investments in the economy. Japan's GDP in the III quarter grew at the slowest pace for the year, as the trade war between the US and China and weak global demand led to a reduction in exports. This may force politicians to increase fiscal and monetary stimulus in order to...

Turkish President Recep Tayyip Erdogan begins his two-day visit to the United States on November 1. There, he will meet with Donald Trump, who recently threatened to destroy the Turkish economy and imposed sanctions against Ankara. Such a reaction was caused by actions of the Turks in Syria that were not coordinated with Washington. After operation was suspended, Trump somehow softened, but the...

Former Mayor of New York, billionaire Michael Bloomberg may stand as a Democratic candidate for the U.S. presidential election in 2020. Earlier, the businessman claimed that he was not going to participate in the race. Now he believes that the current Democratic contenders are not ready to “secure a defeat for Trump.” Michael Bloomberg is actively preparing for entry into the primaries of the US...

US authorities have stepped up efforts to reconcile South Korea and Japan, their key allies in Asia. On Tuesday, Assistant Secretary of State for East Asia and the Pacific, David Stillwell, arrived to South Korea. One of the key topics for discussion is Seoul’s decision to withdraw from the Agreement on the General Security of Military Information (GSOMIA), a key mechanism for cooperation between...

German Chancellor Angela Merkel announced that the government will invest € 3.5 billion ($ 3.9 billion) in the construction of charging stations for electric vehicles by 2035. The statement was made during a speech by the Chancellor at the Volkswagen factory in Zwickau, where starts production of an ID.3 electric vehicle worth € 30 thousand. “Now we can say that Zwickau is the pillar of today's...

The world’s largest oil and gas companies should reduce production by more than 30% by 2040 in order to achieve hydrocarbon emissions targets set by the Paris Climate Agreement. British analysts at Climate Tracker said that emissions from the world's largest energy companies, which are going up due to increased oil production, will increase spending to lower this level for decades. The 2015...

The UK Her Majesty's Revenue and Customs (HMRC) received many messages about citizens who could withdraw money abroad. The messages were received within an automatic exchange of information. However, the tax authorities don’t have time to study them, so they send letters to potential tax evaders asking them to confess. The HMRC has been "littered" with reports of accounts in foreign banks, which...

In the III quarter of 2019, Hong Kong's GDP has been falling at the highest rate since 2009, by 3.2% quarterly, and a recession has begun in the region's economy. In the second quarter, Hong Kong's economy fell 0.4% compared with January-March. In annual terms, in the III quarter, the economy declined 2.9% after rising 0.5% in the previous quarter. The pace of the economic downturn exceeded...